As reported during its first-quarter 2022 earnings call, WM Technology Inc (NASDAQ:MAPS), d.b.a. Weedmaps, has completed the acquisition of cannabis-focused digital menu and ad company Enlighten.
Why It Matters
This acquisition brings in two key Enlighten features:
- SmartHub, a subscription software that powers in-dispensary digital menus and kiosks; and
- AdSuite, an in-store digital ad inventory for brands to reach consumers at the point of purchase.
These solutions now allow Weedmaps to provide a comprehensive advertising offering to clients as part of WM Business.
Enlighten was founded in 2018. Founders Jeremy Jacobs and Colby McKenzie identified the lack of resources available to consumers who wanted to become educated on the industry, as well as the lack of opportunities for cannabis brands to advertise, and decided to create this company.
Thanks to the acquisition, Weedmaps will now be able to offer marketing options in dispensaries at the point of purchase.
While Weedmaps has led the online cannabis space, the tools Enlighten brings into the fold allow Weedmaps to offer omnichannel marketing throughout the buying journey regardless of whether the customer is shopping from their computer or at a physical storefront.
Stay tuned to Benzinga Cannabis and El Planteo for more updates on Weedmaps' earnings and news.